Coinbase Exploiter Acquires 649 ETH, Continues Laundering Spree

The latest hack of the prominent crypto exchange, Coinbase, has reportedly taken another turn. As per the data from Lookonchain, the Coinbase hacker has bought 649.62 more Ethereum ($ETH) , highlighting the attacker’s ongoing endeavors to shift as well as consolidate the drained funds. The on-chain analytics platform took to social media to provide the details of the activities of the Coinbase exploiter.

Coinbase Exploiter Consolidates by Acquiring Another $2.31M in $ETH

In line with the on-chain data, the Coinbase hacker has acquired another amount of 649.62 $ETH, amid the ongoing exploit. This figure denotes a value of approximately $2.31M, accounting for an average per-coin price of almost $3,561. The respective transaction took place a few hours back, signifying that the hacker is actively operating to consolidate and move the funds stolen from the crypto exchange.

Apart from that, the data concerning the wallet activity of the hacker also points out several malicious transactions comprising $DAI stablecoins and $ETH coins. These transfers possibly included the hacker’s plan for obfuscation or laundering. In this respect, the data reveals that 649.619 $ETH were shifted from the wallet going by “0x772…F8” to the hacker’s address, labeled as 0xB57.

Event Highlights Security Challenges Faced by Centralized Crypto Exchanges

Just after that, the respective wallet transacted 2.313M $DAI via CoW Protocol as a settlement to reroute or swap funds. Subsequently, a reverse transfer returned 649.605 $ETH to “0x772…F8,” highlighting internal cycling of funds to complicate the tracks. According to Lookonchain , these systematic fund transactions underscore the Coinbase hacker’s shrewd efforts to confuse the trackers and efficiently siphon funds.

Overall, this entire development points toward the security vulnerabilities and challenges faced by the centrally controlled crypto exchanges amid rising pressure for the implementation of robust security measures.